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All the studies about the retrofit : market, decarbonation, ambition.
PRECEDENCE RESEARCH
According to the North American firm Precedence Research the global automotive retrofit electric vehicle powertrain market size is expected to hit around USD 125.37 billion by 2032 from USD 61.68 billion in 2022 with a CAGR of 7.40% from 2023 to 2032.
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T&E
Ramp-up of electric retrofit would save 300 million tons eq.CO₂ by 2050 by retrofitting 50 million vehicles in Europe, according to the European automotive decarbonisation study by the European organization T&E – Transport & Environment.
With policy support, the e-retrofit industry could ramp up gradually from niche markets before 2030 to a more significant volume in 2040. Conversion numbers would then slowly decline as the number of eligible vehicles becomes more limited. In a high adoption scenario detailed in a report commissioned by T&E, which we use in this roadmap, 50 million ICEs would be e-retrofitted across Europe by 2050 (45 million in the EU).
As a result, e-retrofits would lead to cumulative emissions savings of 300 MtCO₂e by 2050 in the EU. To achieve this scenario, the EU e-retrofit industry would need to convert 720,000 vehicles per year in 2030 and 2.7 million per year in 2040. This amount would require 7% of garages to e-retrofit one car per week in 2040.
The price differential is €5,000 per conversion, as a result, the total spending would be up to €225 billion between 2024 and 2050. The subsidy should be targeted to low income drivers that cannot make the switch to clean alternatives without additional support.
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CARBONE 4
Read the Retrofit study published by Carbone 4 on September the 2nd 2024
‘Retrofitting is an excellent option for electrifying mobility,’ says Jean-Marc Jancovici, Carbone 4 partner.
Read the analysis by Jean-Marc Jancovici
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IPCC
Read the 6th report of the IPCC, the Intergovernmental Panel on Climate Change.
The fruit of international collaboration, this new IPCC report synthesizes the scientific knowledge acquired between 2015 and 2021 on climate change, its causes, impacts and possible measures to mitigate and adapt to it.
This 6ᵉ assessment report will form the main scientific basis for the first global review of the Paris Agreement, which will take place at COP28 in Dubai (United Arab Emirates) at the end of 2023.
See the study
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ADEME
Find out more about the retrofit study by ADEME, the French government's ecological transition agency.
ADEME examined the environmental benefits and economic model of battery-electric retrofit operations on different segments of the fleet. In conclusion, the study confirms the benefits of retrofit operations in environmental terms (greenhouse gases and pollutants).
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IPSOS
The retrofit of classic cars is gaining ground in Europe: 53% of those surveyed are in favour of it.
A look back at this IPSOS study in France, Italy, Germany and England among 1200 vintage enthusiasts shows a huge interest in the retrofit.:
- 44% of respondents know the principle
- 53% of those surveyed are in favor of it.